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and now to john boehner. >> -- sending the economy over the fiscal cliff. two weeks ago we had a very productive conversation at the white house. based on where we stand today, i would say two things. first, despite claims that the president supports a balanced approach, democrats have yet to get serious about real spending cuts. and secondly, no substantive progress has been made in the talks between the white house and the house over the last two weeks. this is not a game. jobs are on the line. the american economy is on the line. and this is a moment for adult leadership. campaign style rallies and one-sided leaks in the press are nolts the way to get things done here in washington. majority leader and i just had a meeting with the treasury secretary. it was frank and it was direct. i was hopeful we'd see a specific plan for cutting spending. we sought to find out today what the president really is willing to do. i remain hopeful that productive conversations can be had in the days ahead. but the white house has to get serious. yesterday our leadership t
and now to john boehner. >> -- sending the economy over the fiscal cliff. two weeks ago we had a very productive conversation at the white house. based on where we stand today, i would say two things. first, despite claims that the president supports a balanced approach, democrats have yet to get serious about real spending cuts. and secondly, no substantive progress has been made in the talks between the white house and the house over the last two weeks. this is not a game. jobs are on...
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is. >> i agree. >> and if we dive off the fiscal cliff, the economy could get much weaker. that's -- >> by the way -- >> -- millions of americans. it's a problem for barack obama. >> just to back you up, i really think the great thing is the economy is just starting to lift up a. the unemployment rate is really starting to come down. we're getting good job production. thank you so much, ladies, for coming on tonight. thanks for the sharp thinking we got tonight. >>> up next, if you can't win by the rules, change then. that's what republicans are trying to do in pennsylvania. they don't like the lerer toal college because it didn't work for them. come back for the place for politics. derate alzheimer's, you'll also care about our new offer. you get access to nurses who can help with your questions. and your loved one can get exelon patch free for 30 days. if the doctor feels it's right for them. it cannot change how the disease progresses. hospitalization and rarely death have been reported in patients who wore more than one patch at a time. the most common side effects of e
is. >> i agree. >> and if we dive off the fiscal cliff, the economy could get much weaker. that's -- >> by the way -- >> -- millions of americans. it's a problem for barack obama. >> just to back you up, i really think the great thing is the economy is just starting to lift up a. the unemployment rate is really starting to come down. we're getting good job production. thank you so much, ladies, for coming on tonight. thanks for the sharp thinking we got tonight....
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Dec 6, 2012
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burns gives us a rich man's look at the fiscal cliff. >> think of the economy as a car and the rich man is the driver. if you don't give the driver, he'll drive you over a cliff. >> that's an aside show and this is "hardball," the place for politics. >>> never too early for pollsters to start head to 2016. guess who's looking very strong? hillary clinton. a new abc news/washington post poll say they would back hillary clinton. it's helpful no one has run a campaign against clinton for the past four years and also helping her numbers is 68% approve of the job she's done as secretary of state for this country. >>> welcome back to "hardball." we know now that mitt romney blames his loss on obama's gifts. i should put the quote marks around that. the much maligned 47% came out in force. last night paul ryan distanced himself from his running mate's remarks. take a look. >> both parties tend to divide americans into our voters and their voters. let's be really clear. republicans must steer far clear of that trap. we must speak to aspirations and anxieties of every american. >> you know, it's
burns gives us a rich man's look at the fiscal cliff. >> think of the economy as a car and the rich man is the driver. if you don't give the driver, he'll drive you over a cliff. >> that's an aside show and this is "hardball," the place for politics. >>> never too early for pollsters to start head to 2016. guess who's looking very strong? hillary clinton. a new abc news/washington post poll say they would back hillary clinton. it's helpful no one has run a...
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burns gives us a rich man's look at the fiscal cliff. >> think of the economy as a car and the rich man is the driver. if you don't give the driver, ç he'll drive you over a cliff. >> that's an aside show and this is "hardball," the place for politics. you can stay in and share something... ♪ ♪ ...or you can get out there with your friends and actually share something. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. offering some of our best values of the year. when you take a closer look... ...at the best schools in the world... ...you see they all have something very interesting in common. they have teachers... ...with a deeper knowledge of their subjects. as a result, their students achieve at a higher level. let's develop more stars in education. let's invest in our teachers... ...so they can inspire our students. let's solve this. >>> never too early for pollsters to start head to 2016. guess who's looking very strong? hillary clinton. a new abc news/washington post poll say they would back
burns gives us a rich man's look at the fiscal cliff. >> think of the economy as a car and the rich man is the driver. if you don't give the driver, ç he'll drive you over a cliff. >> that's an aside show and this is "hardball," the place for politics. you can stay in and share something... ♪ ♪ ...or you can get out there with your friends and actually share something. ♪ the lexus december to remember sales event is on, offering some of our best values of the year....
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Dec 5, 2012
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burns gives usña rich man' look at the fiscal cliff. >> think of the economy as a car and the rich man is the driver. if you don't give the driver, he'll drive you over a cliff. >> that's an aside show and this is "hardball," the place for politics. two years ago, the people of bp made a commitment to the gulf. bp has paid over twenty-three billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. >>> never too early for pollsters to start head to 2016. guess who's looking very strong? hillary clinton. aç new abc news/washington pos poll say they would back hillary clinton. it's helpful no one has run a campaign against clinton for the past four years and also helping her numbers is 68% approve of theon she's done as secretary of state for this country. i'm done! "are you a
burns gives usña rich man' look at the fiscal cliff. >> think of the economy as a car and the rich man is the driver. if you don't give the driver, he'll drive you over a cliff. >> that's an aside show and this is "hardball," the place for politics. two years ago, the people of bp made a commitment to the gulf. bp has paid over twenty-three billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are...
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when it comes to the fiscal cliff that's threatening our economy and threatening jobs, the white house has wasted another week. >> we've had time. the president has given the republicans flexibility to come up with a credible, specific plan. what they offered in return was an empty letter lacking in specifics. >> meanwhile, vice president biden is having lunch with several middle class americans who would see their income taxes go up if the tax cuts are not extended. all of this comes as the first jobs report since the election exceeded expectations. the u.s. economy added some 146,000 jobs last month. that was enough it to drive the unemployment rate down to 7.7%. joining me to talk about all of it, florida congresswoman debbie wasserman schultz and she chairs the democratic national committee. good friday afternoon to you. >> thank you. >> john boehner said today that democrats' plan is to, quote, slow walk our economy to the edge of the fiscal cliff. how do you respond it to that? >> well, that's just utterly preposterous. the republicans right now in the house of representatives ha
when it comes to the fiscal cliff that's threatening our economy and threatening jobs, the white house has wasted another week. >> we've had time. the president has given the republicans flexibility to come up with a credible, specific plan. what they offered in return was an empty letter lacking in specifics. >> meanwhile, vice president biden is having lunch with several middle class americans who would see their income taxes go up if the tax cuts are not extended. all of this...
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let's take a listen. >> when it comes to the fiscal cliff that's threatening our economy and threatening jobs, the white house has wasted another week. eight days ago secretary geithner came here to offer a plan that had twice the tax hikes that the president campaigned on. it had more stimulus spending than it had in cuts. and an indefinite, infinite increase on the debt limit, like forever. four days ago we offered a serious proposal, based on testimony of president clinton's former chief of staff. since then, there's been no counteroffer from the white house. instead, reports indicate that the president has adopted a deliberate strategy to slow-walk our economy right to the edge of the cliff. instead of cutting spending, the president want to raise tax rates. but even if the president got the tax rate hike that he wanted, understand that we would continue to see trillion dollar deficits for as far as the eye can see. listen, washington has a spending problem, not a revenue problem. and if the president doesn't agree with our proposal, i believe he has an obligation to families and sma
let's take a listen. >> when it comes to the fiscal cliff that's threatening our economy and threatening jobs, the white house has wasted another week. eight days ago secretary geithner came here to offer a plan that had twice the tax hikes that the president campaigned on. it had more stimulus spending than it had in cuts. and an indefinite, infinite increase on the debt limit, like forever. four days ago we offered a serious proposal, based on testimony of president clinton's former...
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up next, tax hikes, overspending, uncertainty, fiscal cliff threatening the economy, but maybe not? we take it all up with moody's chief economist, and deutsche bank senior economist here next. stay with us. lou: you know, it may surprise some that december is historically the strongest month for investors. the s&p500 posting gains in december, 82% of the time since 1990. it's that 18% that should trouble folks, but are concerns with the fiscal cliff giving investors a reason to be less than optimistic? joining me is john, and carl, senior economist for deutsche bank. gentlemen, thank you for being here. start with the treasury secretary. the man in charge of our treasury is out telling everyone that the administration he works for is a part of is perfectly prepared to go over the fiscal cliff in order to raise a tax rate to 39.6%. does that make any sense to you? are you shocked, surprised? >> well, i guess i'm not surprised given we're in the early stages of the discussion, but for the economists and forecasters out there calling this is the fiscal slope, not a cliff or believe it
up next, tax hikes, overspending, uncertainty, fiscal cliff threatening the economy, but maybe not? we take it all up with moody's chief economist, and deutsche bank senior economist here next. stay with us. lou: you know, it may surprise some that december is historically the strongest month for investors. the s&p500 posting gains in december, 82% of the time since 1990. it's that 18% that should trouble folks, but are concerns with the fiscal cliff giving investors a reason to be less...
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. >> dammit, i gets it's time i explain to these good people about the fiscal cliff. think of the economy as the car and the rich man as the driver. if you don't give the driver all the money, he'll drive you over a cliff. it's just commonsense. >> finally someone on the right willing to tell the truth. but here's the thing. this time it doesn't matter if mr. burns, speaker boehner, or the tea party try to hold the american people hostage just to get what they want. the president isn't going to budge. >> so i want to sq thank you both for coming on the show tonight. congresswoman, let me start with you. is the gop serious about holding the economy hostage again just to get what they want? >> well, think about the cards that they are holding. they are in favor of tax cuts for the rich. they want to cut tax care programs and medicare and make seniors pay and threaten the economy of the united states of america by defaulting on payments or at least to threaten that. this is not a very popular position among the public. in fact, they will be -- i think it's a suicide miss
. >> dammit, i gets it's time i explain to these good people about the fiscal cliff. think of the economy as the car and the rich man as the driver. if you don't give the driver all the money, he'll drive you over a cliff. it's just commonsense. >> finally someone on the right willing to tell the truth. but here's the thing. this time it doesn't matter if mr. burns, speaker boehner, or the tea party try to hold the american people hostage just to get what they want. the president...
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but, with everything hanging in the balance - the fiscal cliff, the economy, everything - people still shop at costco. and that is the go-to name in this industry. and like i said, i don't really see a lot of downside to this stock. i don't usually say that. i don't see a lot of downside here. > i don't hear you say that often. that tells me a lot. good to have you on the show. that is scott bauer of trading advantage. > > thanks angie. that's it for us today. check us out tomorrow for traders unplugged, as we get the real deal on how traders make money on cyber monday and black friday. thanks so much for watching. from all of us at first business, have a good thursday. . >>> right now firefighters are on the scene, we will tell you what they found when they went inside that house. >>> the next big storm is headed for the bay area. >>> well, we are in between the days and we have also rainfall projections as we go ahead to thursday night and friday. it is all ahead on the ktvu channel 2 morning news. this is ktvu channel 2 morning news. >>> thank you for waking up with us early thursda
but, with everything hanging in the balance - the fiscal cliff, the economy, everything - people still shop at costco. and that is the go-to name in this industry. and like i said, i don't really see a lot of downside to this stock. i don't usually say that. i don't see a lot of downside here. > i don't hear you say that often. that tells me a lot. good to have you on the show. that is scott bauer of trading advantage. > > thanks angie. that's it for us today. check us out tomorrow for...
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going off that fiscal cliff. to this point most of the conversation has been focused on what happens in january, and for good reason. there's no deal in congress. tax rates go up for a lot of folks, all americans. and a $1.2 trillion worth of defense and spending cuts will be automatically enacted. excuse me, that fiscal cough i told you about. the alternative minimum tax kicks in and put it all together and the results are pretty. the economy would contract by half a percent in 2013. unemployment would raise to 9.1% and the economy would experience what cbo said would be judged as a recession. but after that, then things start to look pretty good. the cbo says after next year by the agency's estimates economic growth will pick up. the labor market will strengthen returning output to its potential level. 5.5% by 2018. essentially if no deal is struck, the federal government would be forced to do what it's refused to do willingly, make dramatic changes in taxes and spending. if those changes happen automatically,
going off that fiscal cliff. to this point most of the conversation has been focused on what happens in january, and for good reason. there's no deal in congress. tax rates go up for a lot of folks, all americans. and a $1.2 trillion worth of defense and spending cuts will be automatically enacted. excuse me, that fiscal cough i told you about. the alternative minimum tax kicks in and put it all together and the results are pretty. the economy would contract by half a percent in 2013....
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they told me the idea is while the president can permit the economy to fall over the fiscal cliff, or curb, whatever you want to call it, he can't allow us to default on our debt. that would, like, destroy the economy. that gives republicans a stronger hand or so they think. but really, think about that. here's how it would go. later this month, republicans would, by voting present, which everyone would think was a bit weird, permit the bush tax cuts to expire for income over $250,000. that would let president obama pocket $1 trillion in tax revenue and secure a win on his key priority in the talks. but they would do nothing else. at the end of the year, we would still go over the fiscal cliff. remember, the bush tax cuts are one of the at least stimulative policies in the negotiations. according to the economic policy institute, extending the middle class tax cuts would wipe out only about 11% of the austerity's economic impact. 11%. but all that other stuff, the payroll tax cut, the unemployment insurance, the sequester, all that, that would still be expiring. so come early next yea
they told me the idea is while the president can permit the economy to fall over the fiscal cliff, or curb, whatever you want to call it, he can't allow us to default on our debt. that would, like, destroy the economy. that gives republicans a stronger hand or so they think. but really, think about that. here's how it would go. later this month, republicans would, by voting present, which everyone would think was a bit weird, permit the bush tax cuts to expire for income over $250,000. that...
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up next, tax hikes, overspending, uncertainty, fiscal cliff threatening the economy, but maybe not? we take it all up with moody's iefonomist, and deuche bank senior economist here next. stay with us. with the spark cash card from capital one, olaf gets great rewas for his small business! pizza! [ garth ] olaf's small busins earns 2% cash back on every purchase, ery day! helium delivery. put it on my spark rd! [ pop! ] [ garth ] why settleor less? great businesses deserve great rewards! awesome!!! [ male announcer ] the spark business card from capital one. choose unlimited rewards with 2% cash back or double miles on every purchase, every day! what's in your wallet? we don't let frequent heartburn come between us and what we love. so if you're onef them people who gets heartburn and then treats day afr day... block the acid with prilosec otc and don't get heartburn in the first place! [ male announcer ] e pill eachmorning. 24 hours. zero heartbur lou: you know, it may surprise some that december is historically the strongest month for investors. the s&00 posting gains in december,
up next, tax hikes, overspending, uncertainty, fiscal cliff threatening the economy, but maybe not? we take it all up with moody's iefonomist, and deuche bank senior economist here next. stay with us. with the spark cash card from capital one, olaf gets great rewas for his small business! pizza! [ garth ] olaf's small busins earns 2% cash back on every purchase, ery day! helium delivery. put it on my spark rd! [ pop! ] [ garth ] why settleor less? great businesses deserve great rewards!...
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romney lost. >> i guess it's time i explain, the good people, the upcoming fiscal cliff. >> the economy is the car and rich sman a driver. don't give the driver many. they will drive you over a cliff. just common sense. >> eric: not exactly. the only way to save the republic is for us to let the president go off the fiscal cliff. taxes will go up. but mandatory spending cuts get enacted. that seems to be the only way dems will cut a dime. let's save the place for the kids. do you agree? >> greg: i do. >> bob: i think you're crazy. >> greg: funny that bob and i agree but for different reasons. fiscal cliff is a horrible med fore. i means the high grade leftism. what you get are massive cuts in defense. and higher taxes. that means the government expands without improving the one thing that works. so you are feeding obese fat man called the government who still isn't doing any good. what they are doing is blackmailing us. president obama is blackmailing saying if you don't do this, if you don't raise taxes on 2%, this is what will happen. >> eric: can i take issue with that? what if we do
romney lost. >> i guess it's time i explain, the good people, the upcoming fiscal cliff. >> the economy is the car and rich sman a driver. don't give the driver many. they will drive you over a cliff. just common sense. >> eric: not exactly. the only way to save the republic is for us to let the president go off the fiscal cliff. taxes will go up. but mandatory spending cuts get enacted. that seems to be the only way dems will cut a dime. let's save the place for the kids. do...
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. >> we absolutely want to avoid going over the fiscal cliff because it would be a big drag on the economy. >> but are you willing to do that? >> what we're willing to do is come up with a package that both accelerates economic recovery, but also begins to reduce the long term deficit and the president's been very clear that that means asking higher income earn eaers to pay who are. more. so the real question is whether republicans will agree with tom cole who the other day said we should agree with the president. so let's get that done. let's not hold the middle class hostage to getting a bonus tax break for folks at the top. so it was great to hear tom come forward on that. obviously he's taken some heat within his caucus, but that would obviously avoid the fiscal cliff. >> congressman chriss van hollen, thanks so much. appreciate it. >>> so he mentioned tom cole. let me play what he had to say. >> the president is willing to accept 80% of the bush tax cuts for 9d 8% of the american peopl and make them permanent, we should do that and continue to fight for the things we believe in. >> so
. >> we absolutely want to avoid going over the fiscal cliff because it would be a big drag on the economy. >> but are you willing to do that? >> what we're willing to do is come up with a package that both accelerates economic recovery, but also begins to reduce the long term deficit and the president's been very clear that that means asking higher income earn eaers to pay who are. more. so the real question is whether republicans will agree with tom cole who the other day...
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members of his own party seem quite comfortable with sending the economy over the fiscal cliff. >> the speaker's remarks riled the left and provoked this response from senate majority leader harry reid. >> he says that democrats have got to get serious about cuts, spending cuts. where is the disconnect, then? >> i don't understand his brain, so you should ask him. okay? >> with only a handful of legislative days left on the congress's calendar before the looming fiscal cliff becomes a raw reality, will the president and house gop find a way over the latest road black and back to the bargaining table? >> why did the white house decide to have this as their opening volley when they knew the response would be a negative one that they drew? >> was it hardball opening? yeah, of course it was. the question is, what's the counteroffer? >> i would imagine there has to -- tim geithner is too smart of a guy in this administration is filled with smart people. they must have a serious strategic plan. >> let's get straight into this and joining me now is senator barbara boxer, democrat from califor
members of his own party seem quite comfortable with sending the economy over the fiscal cliff. >> the speaker's remarks riled the left and provoked this response from senate majority leader harry reid. >> he says that democrats have got to get serious about cuts, spending cuts. where is the disconnect, then? >> i don't understand his brain, so you should ask him. okay? >> with only a handful of legislative days left on the congress's calendar before the looming fiscal...
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. >>> democrats said they think it's a good idea to drive the economy off the fiscal cliff this january. you might call this thelma and louise economics. right off the cliff. ♪ >> joining me now, senator feldma. >> great to talk to you. >> senator, you've been the leader on how the democrats should be approaching the so-called off the cliff drama and i just want to play something you said on july 16th at the brookings institute. let's listen to that. >> we can't get a good deal, a balanced deal that calls on the wealthy to pay their fair share, when i will absolutely continue this debate into 2013. >> after that, senator mcconnell called that thelma and louise economics. tell us why this cliff is not as disastrous a cliff to go off? >> first of all, no one wants to go off any cliff or hill or slope. there is a responsible way to revolve this. but if we take a bad deal and say that all of the nation's fiscal problems are to be balanced on the back of middle class families and the wealthy don't participate, that's a bad deal we cannot and should not live within this country. >> shortly
. >>> democrats said they think it's a good idea to drive the economy off the fiscal cliff this january. you might call this thelma and louise economics. right off the cliff. ♪ >> joining me now, senator feldma. >> great to talk to you. >> senator, you've been the leader on how the democrats should be approaching the so-called off the cliff drama and i just want to play something you said on july 16th at the brookings institute. let's listen to that. >> we...
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particularly with this fiscal cliff. >> well, we haven't talked about one of the big pieces of the fiscal cliff, which actually has a way bigger impact on the economy than tax breaks for the folks at the top, and that's the payroll tax extension for 160 million americans. the nonpartisan congressional budget office says that gives you the most bang for your buck economically speaking. i believe we have to extend that for a year or come up with some alternative way of doing that. let me say a quick word about medicare reform. there's a difference in outlook. we believe we have to find savings in medicare. the president did, $760 billion, and we can build on that by trying to modernize the system, reduce costs overall in the system, not simply transfer rising health care costs onto the backs of seniors on medicare. $22,000 median income. that's what the voucher plan did. we believe we can find savings by changing the way we reimburse doctors and hospitals. not by across the board cuts, but by focusing on the value of care, the quality of care, not the volume of care and the quantity of care
particularly with this fiscal cliff. >> well, we haven't talked about one of the big pieces of the fiscal cliff, which actually has a way bigger impact on the economy than tax breaks for the folks at the top, and that's the payroll tax extension for 160 million americans. the nonpartisan congressional budget office says that gives you the most bang for your buck economically speaking. i believe we have to extend that for a year or come up with some alternative way of doing that. let me...
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. >> if congress does address the problems that it needs to address, concerning the fiscal cliff, if we have reasonable resolution type of programs that the president has been proposing to support the economy in the short run, get us on a sustainable fiscal path in the long run, protect the middle class we're going to see progress in this economy. >> the risk the president wants us to take increasing tax rates will hit many small businesses that produce 60 to 70% of the new jobs in our country. that's the whole issue here. >> on the fiscal cliff front, no new deals or concessions made public, but "the new york times" reports the dynamic has changed. at the request of speaker boehner, senate leaders and nancy pelosi have been dismissed from the negotiating table. leaving just the speaker and the president to hammer this one out. today vice president biden is hosting middle-class families at the white house, continuing to pressure congress to strike a deal on tax rates below 250,000. yesterday, the president struck a hopeful note with a middle-income family in virginia, while maintaini
. >> if congress does address the problems that it needs to address, concerning the fiscal cliff, if we have reasonable resolution type of programs that the president has been proposing to support the economy in the short run, get us on a sustainable fiscal path in the long run, protect the middle class we're going to see progress in this economy. >> the risk the president wants us to take increasing tax rates will hit many small businesses that produce 60 to 70% of the new jobs in...
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. >> members of his own party seem quite comfortable with sending the economy over the fiscal cliff. no substantive progress has been made in the talks between the white house and the house over the last two weeks. >> speaker boehner doesn't want to propose spending cuts, so now he's trying to pressure the white house to do it. >> there's been no serious discussion of spending cuts so far. and unless there is, there's a real danger of going off the fiscal cliff. >> a reporter asked senate majority leader harry reid about speaker boehner's comments. >> he says that democrats have got to get serious about cuts, spending cuts. where is the disconnect then? >> i don't understand his brain, so you should ask him. okay? >> and, of course, another day more republicans dumping grover norquist. among nebraska and is iowa republicans, most of them told the world herald this week they could support a broad budget agreement, even if the deal ends up including higher tax revenues. i won't have a problem with letting those tax rates go up, representative mike simpson said to reuters. but new york
. >> members of his own party seem quite comfortable with sending the economy over the fiscal cliff. no substantive progress has been made in the talks between the white house and the house over the last two weeks. >> speaker boehner doesn't want to propose spending cuts, so now he's trying to pressure the white house to do it. >> there's been no serious discussion of spending cuts so far. and unless there is, there's a real danger of going off the fiscal cliff. >> a...
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fiscal cliff, beyond the fiscal cliff. let me get to this steve. this is about including the debt ceiling. and what the president said about that in this negotiation today. >> we are not going to play that game next year. >> if congress in any way suggests they will tie negotiation to debt ceiling votes and take us to the brink of default once again, part of a budget negotiation, which by the way we have never done in our history until we did it last year. i will not play that game. because we have to break that habit before it starts. >> bret: what about that? >> well, the president had as many red lines for iran as for house republicans. i think what kirsten said is absolutely remarkable. it is about the scalp. it's about the president having made a campaign argument for the better part of 2012. so that he could run a class warfare campaign. now having to make good on that with the base of his party. the u.s. economy be damned. the republicans offered to give so much and offering precisely what erskine bowles laid out as a compromise position in
fiscal cliff, beyond the fiscal cliff. let me get to this steve. this is about including the debt ceiling. and what the president said about that in this negotiation today. >> we are not going to play that game next year. >> if congress in any way suggests they will tie negotiation to debt ceiling votes and take us to the brink of default once again, part of a budget negotiation, which by the way we have never done in our history until we did it last year. i will not play that game....
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>> no one wants to go over the fiscal cliff. worse would be for the president to sign a bad bill. >> all right. alan krueger, chairman of the president's counscil on economi advisers. mr. krueger, nice to see you that month. i'll see you next month, i promise. >> thank you, chuck. >>> trivia time, jim demint's decision to step down 0 means south carolina will have two seats on the ballot in 2014. who was elected the last time both of south carolina's senate seats were on the ballot in the same election? strom thurmond, of course, and the longest serving junior senator perhaps in the history of america, fritz hollings. senator thurmond won re-election and hollings, the form earp governor at the time, won a special to fill a seat left empty when johnston died. we'll be right back. ...so as you can see, geico's customer satisfaction is at 97%. mmmm tasty. and cut! very good. people are always asking me how we make these geico adverts. so we're taking you behind the scenes. this coffee cup, for example, is computer animated. it's no
>> no one wants to go over the fiscal cliff. worse would be for the president to sign a bad bill. >> all right. alan krueger, chairman of the president's counscil on economi advisers. mr. krueger, nice to see you that month. i'll see you next month, i promise. >> thank you, chuck. >>> trivia time, jim demint's decision to step down 0 means south carolina will have two seats on the ballot in 2014. who was elected the last time both of south carolina's senate seats were...
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now, i'm not going to blame it all on the fiscal cliff. we have a slowing economy. we have slowing economies around the world. but i was at a dinner with a bunch of ceos in washington who are interested and care about this fiscal issue on monday night. and they were talking about we're not hiring. we're allowing attrition to happen. we're holding back on big spending. we want to see what happens here before we go forward. what's interesting about this is that the consumer seems to have a different view. the consumer -- for the consumer so far, this has sort of passed by. i wouldn't say blissful ignorance, but it has not affected their behavior. you had a fairly strong set of economic numbers this fall. the housing market seems to have finally turned up after a period of obviously deep decline. and so consumer confidence, which is one of our best proxies for this kind of thing, has been turning up and really does not yet -- the fiscal cliff does not yet seem to have penetrated their consciousness. for those of us who were in stores over the holiday weekend, stores ar
now, i'm not going to blame it all on the fiscal cliff. we have a slowing economy. we have slowing economies around the world. but i was at a dinner with a bunch of ceos in washington who are interested and care about this fiscal issue on monday night. and they were talking about we're not hiring. we're allowing attrition to happen. we're holding back on big spending. we want to see what happens here before we go forward. what's interesting about this is that the consumer seems to have a...
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worried about the fiscal cliff? the economy, ben go swrea? -- benghazi? no need, my friend. the economy has been saved. they removed the word lunatic from the law. the act of 2012 aimes to eliminate, quote, references that contribute to the stigmata swraition of mental health conditions in account as of congress. like a 1947 law that read the words insane and it should include every lunatic and sane person. sorry, bill, the word in it is being left in. the measure has the backing of the psychiatric association. he is not buying it as he explains to neil kavudo. >> not only should we eliminate the word lun atic when the world is on the brink of bankruptcy we should apply it to anybody who wants to do business as usual in washington. >> in the business we call that a sick burn. now more to sneak attack cat in the house chambers. >> i wasn't surprised by sneak attack cat. when your name is sneak attack cat you give it away you stupid cat. bova, do you feel better knowing it was purged from law? >> yes. i feel we are on the way to recovery. if you ban the word "lunatic" why not
worried about the fiscal cliff? the economy, ben go swrea? -- benghazi? no need, my friend. the economy has been saved. they removed the word lunatic from the law. the act of 2012 aimes to eliminate, quote, references that contribute to the stigmata swraition of mental health conditions in account as of congress. like a 1947 law that read the words insane and it should include every lunatic and sane person. sorry, bill, the word in it is being left in. the measure has the backing of the...
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plus, governors are warnings that a failure to reach a deal on the fiscal cliff could mean havoc for state economies. they're telling congress to get together and get something done. i'll talk with two governors who met the president just a few hours ago, but first in today's money minute, here's a look at the markets. ♪ ♪ mom? dad? guys? [ engine turns over ] [ engine revs ] ♪ he'll be fine. [ male announcer ] more people are leaving bmw, mercedes and lexus for audi than ever before. take advantage of exceptional values during the season of audi event. gives you a low $18.50 monthly plan premium... and select generic hypertension drugs available for only a penny... so you can focus on what really matters. call humana at 1-800-808-4003. five days later, i had a massive heart attack. bayer aspirin was the first thing the emts gave me. now, i'm on a bayer aspirin regimen. [ male announcer ] be sure to talk to your doctor before you begin an aspirin regimen. [ woman ] learn from my story. you won't take our future. aids affects us all. even babies. chevron is working to stop mothe
plus, governors are warnings that a failure to reach a deal on the fiscal cliff could mean havoc for state economies. they're telling congress to get together and get something done. i'll talk with two governors who met the president just a few hours ago, but first in today's money minute, here's a look at the markets. ♪ ♪ mom? dad? guys? [ engine turns over ] [ engine revs ] ♪ he'll be fine. [ male announcer ] more people are leaving bmw, mercedes and lexus for audi than ever before....
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and 53% say they trust president obama to avoid the fiscal cliff. compared to just 36% who trust republicans in congress. also today speaker boehner said he wouldn't rule out an agreement to raise taxes as part of a fiscal cliff deal. but he also said there's no progress. this is what winning looks like. joining me now, e.j. dionne and thank you both for your time. senator solis, the jobless rate is at a four-year low. that's quite an achievement. >> yes, reverend re. but we still need to do more. in sectors like retail and health care and tourism and hospitality. we need to do more because people are still suffering. we've got to put jobs back in infrastructure and construction and put our teachers. that's why the president is working so hard so we don't go off the fiscal cliff so we keep the most vulnerable people out of harm's way. to pay $2,200. we've got to talk about fairness here and i'm very excited that the public is listening to the message that the president has made very, very clear. >> 146,000 new private sector jobs last month but one
and 53% say they trust president obama to avoid the fiscal cliff. compared to just 36% who trust republicans in congress. also today speaker boehner said he wouldn't rule out an agreement to raise taxes as part of a fiscal cliff deal. but he also said there's no progress. this is what winning looks like. joining me now, e.j. dionne and thank you both for your time. senator solis, the jobless rate is at a four-year low. that's quite an achievement. >> yes, reverend re. but we still need to...
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worries about the fiscal cliff send stocks lower. the dow fell 60 points, the s&p lost about 7, and the nasdaq is off 8 points. >>> an industry report on manufacturing showed activity contracted last month falling to the lowest level in more than three years. meanwhile, construction spending actually rose 1.4% in october due to increased spending on homes. >>> and ford and gm both ended lower after reporting their latest sales figures. that's it from cnbc, we are first in business worldwide, and now back to chris and "hardball." >>> we're back. hillary clinton is running for president. those are the words of new yorker editor david rem nick this week after he attended the saban forum. he writes of a tribute video in which american and world leaders display their love for the secretary of state and leave the door open for her future plans. i'd say wide open. here it is. >> someone who knows a thing or two about political comebacks. i can tell you i don't think we've heard the last of hillary clinton. ♪ because girl you're amazing ju
worries about the fiscal cliff send stocks lower. the dow fell 60 points, the s&p lost about 7, and the nasdaq is off 8 points. >>> an industry report on manufacturing showed activity contracted last month falling to the lowest level in more than three years. meanwhile, construction spending actually rose 1.4% in october due to increased spending on homes. >>> and ford and gm both ended lower after reporting their latest sales figures. that's it from cnbc, we are first in...
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. >> if we go off the fiscal cliff with no policy changes the near-term negative economic consequences would be significant and most assuredly throw us into a recession. >> comes a day after treasury secretary tim geithner told cnbc the white house is prepared to go the distance if its demands are not met. >> if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> oh, absolutely. again we see there's no agreement that done involve those rates going up on the top 2% of the wealthiest. remember it's only 2%. >> former senator alan simpson, co-founder of the fix the debt campaign, choice words and analysis for would-be cliff jumpers. >> when you have leaders of parties and people from the administration saying, i think it will be to the advantage of the democrats to go off the cliff, wealthy it will be advantage to the republicans to go off the cliff or the president to go off the cliff, that's like betting your country. there's stupidity involved in that. this is big-time stuff. >> surprising exactly no one, senator mitch mcconnell took to the
. >> if we go off the fiscal cliff with no policy changes the near-term negative economic consequences would be significant and most assuredly throw us into a recession. >> comes a day after treasury secretary tim geithner told cnbc the white house is prepared to go the distance if its demands are not met. >> if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> oh, absolutely. again we see there's no agreement that done...
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members of his own party seem quite comfortable sending the economy over the fiscal cliff. >> let's bring in our friday gaggle, associate editor and columnist for the hill amy stoddard, danielle gibbs, and columnist for bloomberg view and national review and one of the funnier people on twitter and he did not pay me to say that but i will start with you. so we kind of feel like we're back to square one. should republicans having seen them lose the presidency by a wider margin than many people thought lose seats in the senate which i don't think almost anybody -- unless you're a loyal democrat thought, and lose seats, though, to keep control of the house three and a half weeks ago. should they be more willing to say let's just do a deal here and move on? we kind of lost that argument. we need to pick a better fight. >> i think republicans -- before the election they were dead set against any increase in taxes on upper income people or anybody. and they have moved on that but there's a limit how far they can move and the deal put forward yesterday, john boehner could endorse that tomorrow.
members of his own party seem quite comfortable sending the economy over the fiscal cliff. >> let's bring in our friday gaggle, associate editor and columnist for the hill amy stoddard, danielle gibbs, and columnist for bloomberg view and national review and one of the funnier people on twitter and he did not pay me to say that but i will start with you. so we kind of feel like we're back to square one. should republicans having seen them lose the presidency by a wider margin than many...
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straight ahead, forget the fiscal cliff for a second. how do we get america's economy growing again? mean a man with a plan next in the guest spot. can i help you? i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp out. you know we've been open all night. is this a trick to get my spot? [ male announcer ] break from the holiday stress. save on ground shipping at fedex office. let's see if we can get the same item at walmart for less? okay. fijit friends. fifteen bucks on rollback. wow! that's a savings of over 29 bucks! twenty-nine bucks!!?? and they're powered by friendship. see for yourself if you could save on the brands you want. walmart. perfect golden color. rich in fiber. my dad taught me, and i taught my son out there. morning, pa. wait... who's driving the...? ♪ 99 bushels of wheat on the farm, 99 bushels of wheat ♪ [ male announcer ] yep, there's 8 layers of whole grain fiber in those mini-wheats® biscuits... to help keep you full... ♪ 45
straight ahead, forget the fiscal cliff for a second. how do we get america's economy growing again? mean a man with a plan next in the guest spot. can i help you? i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp out. you know we've been open all night. is this a trick to get my spot? [ male announcer ] break from the holiday stress. save on ground shipping at fedex office. let's see if we can get the same...
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>> well, to some degree, remember, what is the fiscal cliff? it will hurt the economy allegedly. i don't buy it but that is what everyone -- >> bret: it will hurt the pentagon, correct? >> right. and the domestic spending cuts. fiscal cliff is not cutting spending. it's about preventing a tax increase that preventing spending cuts. now the republican arguement is more complicated. to use the deadline, legitimate argument. i agree with it in principle. use the deadline to get the longer range spending cuts. the president can say fine, i want to negotiate those next year. can't do it in three weeks. incidentally, speaker boehner what medicare cuts are you for, he will say? if the republican position, the republicans campaigned against $716 million in medicare cuts from the current program. republicans for medicare reform. not for squeezing the current program. they will say i want to give the middle class, make sure the middle class tax rate stay where they are. i don't want the republicans to squeeze medicare more than we did, have done in the past. i'm worried. that the president
>> well, to some degree, remember, what is the fiscal cliff? it will hurt the economy allegedly. i don't buy it but that is what everyone -- >> bret: it will hurt the pentagon, correct? >> right. and the domestic spending cuts. fiscal cliff is not cutting spending. it's about preventing a tax increase that preventing spending cuts. now the republican arguement is more complicated. to use the deadline, legitimate argument. i agree with it in principle. use the deadline to get...
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point two on the fiscal cliff, i mean, i think it's clear as professor dyson says that republicans are losing this argument politically. they lost the election. you see republicans like coburn beginning to crack. and every single poll shows that the republicans are losing the debate, both on the fiscal cliff and on the tax issue. they're losing the issue politically. i think they know they're losing the issue politically, and i think they know at some point they are going to have to concede a deal that are largely on president obama's terms. but they're also losing the argument with economists. if you consider what president obama put forward yesterday with a $1.6 trillion in tax increases mostly on the wealthy, every single economic study has shown that that will have virtually no impact on gdp growth. the congressional budget office did a study that showed that it would decrease gdp growth by 0.1%. virtually no impact. republicans didn't like that cbo study although they always like the cbo. so they went to crs to see if they could do another study that would differ from the cbo stud
point two on the fiscal cliff, i mean, i think it's clear as professor dyson says that republicans are losing this argument politically. they lost the election. you see republicans like coburn beginning to crack. and every single poll shows that the republicans are losing the debate, both on the fiscal cliff and on the tax issue. they're losing the issue politically. i think they know they're losing the issue politically, and i think they know at some point they are going to have to concede a...
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. >> going over the fiscal cliff will hurt our economy and hurt job creation in our country. this is not good for our country. it's as simple as that, and the president understands it. >> reporter: corporate leaders were also making the rounds. a group from the simpson/bowles backed organization "fix the debt" stopped in for talks on capitol hill. and later, c.e.o.s from yahoo, archers daniel midlands, caterpillar and other companies headed to the white house for a meeting with the president. >> i'd like to hear the president's views about where the country is headed and support him any way we can. >> reporter: treasury secretary timothy geithner will meet with congressional leaders tomorrow, so there is hope serious face- to-face negotiations will soon be under way. darren gersh, "n.b.r.," washington. >> susie: one of the c.e.o.s meeting with lawmakers today joins us. he is david cote, c.e.o. of honeywell. david, thank you so much for joining us. we really appreciate it. did you get the sen from house speaker boehner, he is ready to make a deal? >> i would say there is a rec
. >> going over the fiscal cliff will hurt our economy and hurt job creation in our country. this is not good for our country. it's as simple as that, and the president understands it. >> reporter: corporate leaders were also making the rounds. a group from the simpson/bowles backed organization "fix the debt" stopped in for talks on capitol hill. and later, c.e.o.s from yahoo, archers daniel midlands, caterpillar and other companies headed to the white house for a meeting...
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the "news nation" is following where things regard right now with the fiscal cliff and there's hot rhetoric to go around. >> our members believe strongly that raising tax rates will hurt the economy. closing loopholes, especially on those who are wealthy, is a better way to raise this revenue. >> in order for us to raise the amount of revenue that's needed just by closing deductions and loopholes for high earners we'd have to, for example, eliminate or severely cap the char itible deduction. >> an obsession to raise taxes not going to solve the problem. what will solve the problem is doing something about the entitlements, taking on the wasteful spending in washington. >> and meantime, "the new york times" jonathan wiseman reports behind the scene republican leaders are considering the president's plan to extend middle class tax cuts now an address the debt and spending in the new year. here's republican senator tom coburn on "morning joe." >> actually, i would rather see the rates go up than the other way and greater chance to broaden the base in the future. >> do something, a down payment
the "news nation" is following where things regard right now with the fiscal cliff and there's hot rhetoric to go around. >> our members believe strongly that raising tax rates will hurt the economy. closing loopholes, especially on those who are wealthy, is a better way to raise this revenue. >> in order for us to raise the amount of revenue that's needed just by closing deductions and loopholes for high earners we'd have to, for example, eliminate or severely cap the...
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. >> an added wrinkle to the fiscal cliff talks is the debt ceiling, with the government on pace to reach its borrowing limit early next year. the white house stated its position on the 14th amendment, which some theory rise is a way for the president to raise the debt limit independently, should republicans attempt to use it as a negotiating tool. >> i can say that this administration does not believe that the 14th amendment gives the president the power to ignore the debt ceiling, period. >> the fiscal cliff talks reached a new low yesterday when, somehow, the new york jets got dragged into it on the senate floor. >> it's not one of my favorite teams, but it's really, really fun to watch, and that's the new york jets. coach ryan, he's got a problem. he has three quarterbacks, sanchez, he's got tim tebow, he's got another guy. he can't decide who their quarterback is going to be. that's the same problem republicans are having. romney's gone, but he's still in the background. we have mcconnell and we have boehner. who is the quarterback, mr. president? who is the quarterback? >> there's s
. >> an added wrinkle to the fiscal cliff talks is the debt ceiling, with the government on pace to reach its borrowing limit early next year. the white house stated its position on the 14th amendment, which some theory rise is a way for the president to raise the debt limit independently, should republicans attempt to use it as a negotiating tool. >> i can say that this administration does not believe that the 14th amendment gives the president the power to ignore the debt ceiling,...
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that's what the president wants to avoid with this fiscal cliff conversation. that's why a deal is going to be hammered out probably before the end of the year. the president does have a little political head wind. >> this gives, i think, labor a real opportunity to show the country the graph that we showed, the separation between corporate profits are right there at a record level and wages are going down. the republicans have been so strong to even want to take away workers voices in the workplace. but in these fiscal cliff negotiations, do you really think that the republicans see this chart and they need that economy to slow down a little bit if they are going to win this? >> maybe so. the income inequality in this country has been a problem but it has been for decades. it's been exacerbated by policies passed more recently. so when you go into negotiations, you ask, is it politically correct to be out there arguing that the 2% need to have their tax cuts protected? that's the problem that republicans face. labor does have a bit of an upper hand on this one
that's what the president wants to avoid with this fiscal cliff conversation. that's why a deal is going to be hammered out probably before the end of the year. the president does have a little political head wind. >> this gives, i think, labor a real opportunity to show the country the graph that we showed, the separation between corporate profits are right there at a record level and wages are going down. the republicans have been so strong to even want to take away workers voices in...